Market Sectors

New Jersey has an unmatched location and a population that developers dream about. It’s no wonder the commercial real estate industry is flourishing and evolving across all segments of the market.

Finance & Capital Markets
CMC: Parsippany apartment complex owner lands $12.7 million refi

An apartment owner has refinanced an eight-building, 222-unit complex in Parsippany for $12.7 million, in a newly announced transaction by Commercial Mortgage Capital.

Finance & Capital Markets
G.S. Wilcox sources $6.3 million bridge loan for mixed-use Rutherford property

Prism Capital Partners has obtained nearly $6.3 million in financing for its purchase of a 53,000-square-foot mixed-use building and parking garage in Rutherford.

Industrial
Somerset hockey rink sold, slated to become warehouse space

The operator of a hockey rink in Franklin Township has sold the property to a buyer that is now slated to use it as warehouse space, according to brokers with Cushman & Wakefield.

Office
LeFrak, CBRE ink 33,000 sq. ft. in office leases at Newport in Jersey City

Nine tenants have combined to lease nearly 33,000 square feet of office space in Jersey City’s Newport section, in a series of newly announced deals by CBRE.

Residential & Mixed Use
Kislak touts banner year with 242 transactions, $1 billion in deal volume

The Kislak Co. Inc. and Kislak Commercial Real Estate Services Inc. are reporting record investment sales and leasing activity in 2021, closing 242 transactions in six states.

Retail
Investor buys 10,000 sq. ft. daycare center building in Montgomery, NAI Hanson says

A local investor has purchased the site of a 10,000-square-foot daycare center building in Somerset County, according to a brokerage team with NAI James E. Hanson.

Residential & Mixed Use
Developers tout 50 percent leased milestone at new 150-unit rental property in Old Bridge

A new 150-unit luxury apartment complex in Old Bridge is now more than 50 percent leased after hitting the market last fall.

Finance & Capital Markets
Developer nabs $95 million construction loan for 300-unit rental project in Jersey City

A developer is set to break ground on 300 luxury apartments in Jersey City after securing a $95 million construction loan for the project, in a transaction arranged by The Carlton Group.

Industrial
CBRE: Rents for top New Jersey industrial buildings rise 55 percent in 2021

The cost to lease industrial space in New Jersey skyrocketed in 2021, with average asking rents for high-end buildings jumping by more than 50 percent from the previous year.

Residential & Mixed Use
NRP, Hoboken Brownstone open 131 luxury apartments in Jersey City

A joint venture has completed a new 131-unit luxury apartment building in Jersey City, marking the latest addition to a growing residential neighborhood near the Holland Tunnel.